Israel Stocks: Hapoalim, Magal, Discount, Israel Corp., Ampal
Israel’s TA-25 Index climbed to the highest level in more than a week, increasing 1.4 percent to 1,266.88 at the 4:30 p.m. close in Tel Aviv. Investors traded about 1.77 billion shekels ($515.2 million) in shares and convertible securities.
The following stocks rose or fell today. Symbols are in parentheses.
Ampal-American Israel (AMPL) Corp gained the most since May 17, increasing 4.2 percent to 4.323 shekels. Ampal and other shareholders in East Mediterranean Gas Co. said they may take legal proceedings against Egypt if natural-gas supply isn’t restored. Oil Refineries Ltd. (ORL) , which has agreements to buy gas from EMG, gained 2.1 to 2.49 shekels.
Delek Group Ltd. (DLEKG) advanced the most since March 27, increasing 5 percent to 832.60 shekels. The holding company filed a shelf registration covering 30 million shares and various amounts of debt securities.
First International Bank of Israel Ltd. (FTIN) climbed the most since Feb. 14, gaining 3.5 percent to 51.75 shekels. The country’s fifth-largest lender said first-quarter profit rose 42 percent to 183 million shekels.
Bank Hapoalim Ltd. (POLI IT) jumped to the highest since April 28, advancing 2.2 percent to 17.68 shekels. Israel’s second-largest lender by assets said first-quarter profit almost doubled to 903 million shekels as provisions fell and financial income increased.
Israel Corp. (ILCO IT) increased the most since Oct. 10, adding 4.1 percent to 3,747 shekels. The holding company controlled by the Ofer family said U.S. sanctions connected to the sale of a tanker by Tanker Pacific Management (Singapore) Pte. Ltd. don’t apply to the company or its units.
Israel Discount Bank Ltd. (DSCT) jumped the most since September 2009, gaining 5 percent to 6.859 shekels. The country’s third-largest bank said first-quarter net income almost doubled to 278 million shekels.
Magal Security Systems Ltd. (MAGS) soared 17 percent to 12.41 shekels, the biggest increase since January 2008. The developer of computerized-security systems signed a $35.5 million contract to supply an integrated security system for the African Cup of Nations Football Championship to be held in West Africa in January 2012.
Separately, the company said its first-quarter loss narrowed to $1.6 million from $2.4 million.
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